AMD and Broadcom Gain Ground Following Leadership Shakeup at Nvidia

By EC Assets · Published 12 November 2026

Advanced Micro Devices Inc. and Broadcom Inc. posted share price gains as leadership turmoil engulfed Nvidia Corp. Investors shifted capital toward rival semiconductor manufacturers on bets that these companies may capture business from the graphics chip maker. Other artificial intelligence trade-related names did not fare as well during the market reaction. Nvidia chief executive officer Jensen Huang announced his resignation, driving Nvidia shares down nearly 10%. Reports indicated the resignation followed allegations involving an affair, alongside reports that the board had prepared to remove him as executive leader. Nvidia stock fell to $158.78 in morning trading, reflecting a drop of 9%, while Intel Corp. fell 4% and AMD held steady before advancing. Colette Kress has taken over as interim chief executive officer while the company assesses candidates for permanent leadership. The boardroom shakeup has generated immediate interest in alternative semiconductor providers. Advanced Micro Devices, Broadcom, and Alphabet Inc. gained ground in after-hours trading as investors weighed potential shifts in hardware procurement. Market participants observed big gains for chip makers on Monday, though analysts noted that companies capitalizing on the shift could face greater scrutiny over their own sales practices. The leadership vacuum arrives during a broader period of scrutiny for Nvidia. A controversy involving Singapore-based Megaspeed has drawn attention to the company, leading Megaspeed to issue its first public statement regarding the matter on Thursday. Concurrently, discussions around United States export controls continue, with former officials noting that Congress may push for a complete ban on sales of advanced semiconductors into China despite Nvidia spending record sums on Washington lobbying. What to watch includes further statements from Nvidia regarding the selection of a permanent chief executive officer to replace interim leader Colette Kress, as well as legislative deliberations in Washington concerning semiconductor export limitations to China. This article is intended for informational purposes only. It does not constitute investment advice.